Public employee pension plans tend to be more generous than private ones. Whereas many pensions use 1% in their formulas, the nation’s largest pension plan, the California Public Employees’ Retirement System (CalPERS), pays 2% in many instances.2In that case, if an employee had 35 years o...
If you've got a pension, count yourself as one of the lucky ones. A pension is more valuable than you realize. With a pension, you won't be forced tolower your safe withdrawal ratein retirement like those of use who don't have pensions. This post will help you calculate the value o...
In fact, the state had to raise its payments by a total of $18 billion over that period to fill the gap, according to an analysis of CalPERS data.The pension fund has not been able to catch up, even though financial markets eventually rebounded. That’s because during the lean years,...
Summary This chapter offers advice to Public Sector Employee Retirement System (PERS) CEO Alyson Green on how the PERS can join the pension revolution. PERS's board of trustees must have agreed with the governor's assessment, as they decided that Alyson was the strongest of the three finalists...
A lot of that [model] came from spending time with the Canadian pension plans as they were growing. We are a state entity, so I knew we couldn’t be a Canadian plan, but it doesn’t mean we can’t join them. So, we decided to partner with t...